Stock market development and economic growth in Belgium

被引：56
|
作者：
Van Nieuwerburgh, S
Buelens, F
Cuyvers, L
机构：
[1] NYU, Stern Sch Business, New York, NY 10012 USA
[2] Univ Antwerp, B-2020 Antwerp, Belgium
来源：
EXPLORATIONS IN ECONOMIC HISTORY | 2006年 / 43卷 / 01期
关键词：
financial development; economic growth; stock market;
D O I：
10.1016/j.eeh.2005.06.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper investigates the long-term relationship between financial market development and economic development in Belgium. We use a new data set of stock market development indicators to argue that financial market development substantially affected economic growth. We find strong evidence that stock market development Caused economic growth in Belgium, especially in the period between 1873 and 1935. Institutional changes affecting the stock exchange explain the time-varying nature of the link between stock market development and economic growth. (c) 2005 Elsevier Inc. All rights reserved.
引用
收藏
页码：13 / 38
页数：26
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